ESMA pide frenar nuevas operaciones con stablecoins fuera de MiCA y da tres meses para saldos existentes

La ESMA pide bloquear nuevas operaciones con stablecoins fuera de MiCA y resolver saldos existentes en un máximo de tres meses.

• ESMA is urging EU-authorized crypto platforms to halt new operations with stablecoins not compliant with MiCA regulations.
• Existing balances of non-compliant stablecoins must be resolved within a three-month period, with national supervisors overseeing the process.
• This directive aims to ensure uniform application of MiCA's requirements for reserves, refunds, and governance for stablecoins operating within the EU.

Topics: Legal regulatory, Jurisdictions, Blockchain usage, Securities law classification, Regulatory sandboxes pilots, Ethereum evm l 1 s

Tags: #stablecoins #mica #esma #europeanunion #cryptocurrencyplatforms #regulatorycompliance #assetreferencedtokens #emoneytokens #usdt #threemonthdeadline

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Crypto firms face tougher rules with MiCA taking full effect in Cyprus

The end of the transition period brings stricter oversight of anti-money laundering compliance, customer protection, and the operations of crypto service providers.

• Cyprus has fully implemented the EU's Markets in Crypto-Assets (MiCA) Regulation, requiring all crypto service providers to obtain authorization.
• CySEC has licensed 22 Crypto-Asset Service Providers (CASPs) and is scrutinizing AML/CFT compliance, customer protection, and operations.
• Unauthorized providers risk regulatory action, and customers using them lack MiCA's safeguards, highlighting the importance of verifying company authorization.

Topics: Legal regulatory, Jurisdictions, Blockchain usage, Securities law classification, Regulatory sandboxes pilots, Ethereum evm l 1 s

Tags: #mica #cyprus #cysec #cryptoassetserviceproviders #casps #aml #customerprotection #esma #assetreferencedtokens #electronicmoneytokens

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